Ten Commandments For Buying Gold & Silver

By Twisted Titan, on April 10th, 2011

A updating of The Classic Piece by Franklin Sanders

I. Always take delivery.

Do not let anybody hold your Physical asset. When you do you create a breach in the Armor that Gold and Silver Provide. “Investors”(and I use that term loosely) that hold warehouse receipts or worse digital instruments thinking that they own the real things are going to be in for the most violent shocks because of their failure to observe this most important rule: WHATEVER YOU BUY ……YOU MUST HOLD. PERIOD. END OF STORY.

II. Never buy premium if you can avoid it.

Do realize there are least Three Price Points in the world of Precious Metals:

1) Those who really desire a particular piece for Collector, Strategic or sentimental reasons for them price is irrelevant.

2) Those who are shrewd and purchase after careful due diligence

3) Those who buy because they follow what marketers tell them and get raked over the coals. Ex. Poor saps that buy from late night infomercial adverts.(It is not by accident that these shows are becoming much more prolific as of late. Make it your business to get educated before you buy)

III. Buy bullion for business, Numismatics for fun

This is a corollary to rule number 2, as you get deeper into your hard asset career certain coinage you will develop a “affection” for (I am extremely partial to Peace Dollars and Mercury Dimes) paying a premium will be afterthought because you desire that particular piece and that is fine ………you should purchase the things that pleases you but for strategic purposes it is a good practice to develop the habit of accumulating at the best possible price point and Bullion with easy recognizable Hallmarks fits the bill nicely.

IV. Buy Silver first, then Gold.

It should go without saying but you would be surprised just how many will do the EXACT opposite. Gold has all but reached a dollar value where the average person has been priced out, yet they still clamor for it. Meanwhile you have Silver (Gold’s Historical Twin) that can be purchased for a fraction of the price and has an even more explosive upside yet it is still very much under exposed, which has created the unprecedented Generational Wealth Opportunity for those who understand the fundamentals ( but this is rapidly changing… see The Silver Door is closing for more info)

V. Buy small gold first, then large.

It wise when you make your purchases to accumulate in various denominations. This is important because as the prices begin to vault upward you want to have the flexibility to cash out a small part of your position to expand in other areas. This is a crucial step that many people overlook. Now let me be clear: those DO have a place (Large bars and ingots) but for the average person they tend to complicate things greatly as there may be reporting requirements when you try to liquidate or exchange them. So avoid this by making multi-denominational purchases as the smallest ones will be most liquid and have the highest returns.

VI. NEVER buy exotic coins, modern rarities or ANYTHING you don’t understand.

Truer words have never been written because you are more then likely to get skinned alive financially. Now, why does this happen??
For the simple fact people refuse to perform any independent research or worse they rely on the person that is giving them a sales pitch and believing it to be sound investment advice (Titan Tid Bit #1 rarity is directly proportional to what the Buyer thinks it is, not what you claim it is). …….. and before you entertain dismissing my position go to any dealer shop and take a peak in the scrap bin, do tell me how many “rarities” you find in there ( Those colorized and First strikes ASE’s come to mind ). Bottom Line: with Silver and Gold breaking new highs a lot of “rare” coins will be sold en masse and will only capture melt or a lot less then you paid depending on where, when and why you sell. This will be a most expensive lesson for many.

VII. Know your Dealer.

This is probably the most overlooked commandment of all (Titan Tid Bit #2 WHERE you buy is more important then WHAT you buy). The strength of your relationship with your dealer will be absolutely critical for several reasons: As the Silver Sun rises over the face of America there is going to be an explosion of Johnny come latelys and those who have relationships in advance will get favored status. ( I Remember quite well The Silver Lockout of 08 when markets were virtually frozen a lot of folks were sitting with hat in hand but those with relationships in place were able to find metal or at least secure pricing in a whipsaw fluctuating market ) but even more important your dealer will be the source when it comes time to liquidate and if you have a healthy rapport it will net you much better buy rates and terms as opposed to going to some ad hoc “Gold Buying Event that will Probably lowball you on your coinage. It’s also a good practice to have at least three dealers that are independent of each other for purposes of diversified autonomy. Now how do you know when you come across a Good Dealer??? A good trait they exhibit is a willingness to educate you on the finer distinctions of hard currency without putting you in a hammer lock to make a purchase. They will also save you and your wallet from a lot of pitfalls if you take the time to pick their Brains. I have met a few that were more than happy to “Ham it up” as long as the store wasn’t busy but that time is RAPIDLY closing as dealers (both good and bad) are seeing explosive growth as people flock to Hard Currency for their Historical safe haven status.

VIII. What governments can’t find, they can’t steal.

Or tax, or litigate away from you. When you own Gold and Silver you hold the ALLODIAL TITLE: That means it is beyond the reproach of any person or entity. Nobody can do anything with it unless YOU grant them permission and even then ………you control 100% of the terms during Negotiations. There is no other asset class that I know of which gives that much influence and power to the owner. All others require some degree of cooperation with the counter party. That is a key reason I believe why Hard Currency is still heavily marginalized by bureaucrats and Authority figures because when you hold them those people and institutions have ZERO power in what you choose to do with it.

IX. NEVER talk to anyone about where you store your physical metals or the amount you actually own.

Words will forever fail me when I try to quantify just how important it is this commandment be observed. Dear reader it would be nice to believe that we live in a time and place where intelligence, being thrifty and property are respected but we do not……. instead we are despised by others who have less (the Sheeple) punished by those who have more (The State and Federal “authorities)” and Those who wish to take our possessions through forceful action (The Predator) The most effective means with dealing with all three is the simplest… SILENCE. By keeping a low profile we greatly reduce our chance of becoming targets. This cannot be over emphasized. It would be terrible blunder to do everything else right and then loose it all ( maybe even your life) because you had a loud mouth……… Bottom line CLAM UP AND ENJOY THE RIDE.

X. There is no need to ever break the law……..

Because it is the Rich and The Elite who write the laws and they will NEVER put a law on the books where they cannot “legally” by pass rules and standards that will adheres to 99% of the population that don’t have the means to employ the services of those who can assist in the navigation of such Procedure and Protocol. That is the way how the System has been set up since Day One. Bottom line: Your ability to amass Wealth (True Wealth) will have direct affect on the amount of influence you have over “The Laws” that govern your Personal affairs and Freedoms that you enjoy. Each of us has the ability through the acquisition of Hard Currency to be a Rule Maker doesn’t miss it……because I sure won’t.

10 comments to Ten Commandments For Buying Gold & Silver

Excellent advice TT. I believe it only fair to also share the web site of your inspiration, Franklin Sanders, a reputable bullion dealer and gentleman, who offers much educational material to his audience and customers, much of it free:http://www.the-moneychanger.com

Great advise there. I am realizing i need to keep my silver purchases quiet even though everybody knows of my love of the metal for years.
My question is where is a good place to put it? Is there a good article on that around?
Thanks again

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And 1,000 ounces?

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